Lift Chair Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Lift Chair market in 2021?

The global lift chair market is anticipated to grow at a CAGR of 4.5% from 2021 to 2028. It is expected to reach a market size of USD 5.6 billion by 2028.

COVID-19 Impact on the Lift Chair Market

The COVID-19 pandemic had a significant impact on the lift chair market. Due to the lockdowns and restrictions imposed during the pandemic, the market witnessed a slowdown in production and distribution. However, as lockdown measures eased, the market started to recover, with an increased focus on enhancing the home healthcare infrastructure.

Lift Chair Dynamics

The lift chair market is driven by the growing aging population globally. As more individuals require assistance with mobility and comfort, the demand for lift chairs has increased. Additionally, technological advancements in lift chair design and functionality have also contributed to market growth.

Segments and Related Analysis

The lift chair market is segmented based on power lift chairs and manual lift chairs. Power lift chairs accounted for the largest market share in 2021 due to their convenience and ease of use. However, manual lift chairs are also gaining popularity among consumers looking for more affordable options.

By Region Analysis

North America dominated the global lift chair market in 2021, driven by the high prevalence of mobility issues among the aging population in the region. Europe and Asia Pacific followed closely, with increasing awareness about the benefits of lift chairs contributing to market growth.

Key Market Players and Competitive Landscape

Major players in the lift chair market include Pride Mobility, Golden Technologies, Franklin Corporation, Med-Lift, and La-Z-Boy. These companies are constantly innovating to introduce advanced features and improve user comfort, thereby maintaining their competitive edge in the market.

Recent Happenings in the Lift Chair Market

In recent developments, Pride Mobility launched a new range of lift chairs with enhanced lumbar support and heat therapy features. Golden Technologies announced partnerships with healthcare facilities to provide customized lift chair solutions for patients. These developments indicate a growing focus on innovation and customization in the lift chair market.